The newly established Rawson Commercial franchise in Northgate, Johannesburg, owned and run by Gerald Houston, who has some five years’ experience in this field, has secured the marketing rights to one of the biggest new property developments launched in Johannesburg’s Northern Suburbs in the last few years.
The 25 HA property is sited in Fourways on the Knoppieslaagte Road between the R511 and the R562. The R511 is an extension of William Nicol Drive, leading from Sandton in the south towards the N14 highway in the north. It falls in the area between the N1 highway and the N14 highway north of Sandton. The R511 is currently being upgraded to handle the increased traffic flow which will inevitably flow from the developing node.
The site has, as near neighbours, some of the residential sections of Dainfern, the new Helderfontein estate and the massive Steyn City development which is already under construction.
“The very prestigious position of this land tract,” said Houston, “makes it a prime property, one of several in the area likely to benefit from the ongoing northwards expansion of Johannesburg’s more upmarket suburbs.”
The property was previously used as a conference centre and hotel, and has on it just over 2, 000 m² of floor space under roof, comprising of a lapa and a tea area, staff quarters, a store and a garage. All the buildings are single storey and, being located high on the hillside, have glorious 360 degree views which take in the Fourways Valley.
An application for the rezoning and redevelopment of the property as a mixed use precinct has already been submitted to the Johannesburg City Council. This makes provision for two residential areas, one of 9, 4 HA and one of 5, 6 HA. In addition it is proposed that there will be a 1, 3 HA business node, 0, 6 HA of public open space and 5, 4 HA of roads and parking area. A 2 HA area in an attractive position has been zoned for ‘special use’.
The site, says Houston, is currently unserviced, but municipal water and Eskom power are available, the latter through two separate power points already in place.
Houston says that the owners wish to sell the entire property as a single development and the list price at the moment stands at R60 million excluding VAT. This, he says, is exceptionally reasonable in view of the strategic and attractive position of the property, as well as, the fact that the comparative market values of agricultural land that have sold, do not have all the reports and assessment studies in place as does this property.
